We should go long ETH at market, using dollars or euros ideally, but diverting some BTC funds isn't a bad idea either. Keep stops below today's low. (or use this distance to measure risk and use no stops!) If we find price holds above the 7.6078 mark for a month, we could expect uptrend continuation and a move up towards the 9-10.25 range, before rallying...
After previous peak (13$) the price retraced reaching 0,7 Fib line, building a support area. Signal line on MACD too shows a recharging phase. Trying to measure a possible impulsive wave to the upside we can expect the 11$ level on the long run.
Because on btc usd we will see little down from now, this is very possible scenario for ETH now
As the chart indicates, there might be a head and shoulder pattern playing out for ETH. The horizontal neckline could be discussed, but if drawn like this the calculated price target (subtract difference between top of head and neckline from outbreak neckline) coincides with a big support/resistance level at approximately 2euro. Volume on the right shoulder...
Currently tracing out wave 3 of (5) - heading toward the target low of around 5.63. I would expect this to be the end of the corrective pattern and look to get bullish after that.
If/when the channel breaks on the downside, wave 5 should proceed to the previous target of around 5.75
Once triangle completes, downside target still on track in the 5.75 to 5.35 range.
Looks like the triangle count has been invalidated by the breach of the previous low. Now it fits the idea of a double three (in the form of a zig zag and a flat). Not much change to the downside target though....around 7.50.
After a consolidation phase, Etheur points down. Bounces in middle Bollinger Band pointing to the lower one, breakout on lower trendline, CCI under a descending trendline, signal line on MACD points down.
See related links for rationale behind forecast.
Seems to be holding the probable pattern of a straightforward zig zag ABC. Target around EUR 6.00 (assuming wave C equal to wave A in % terms. Also in close proximity to the 0.382 fib)
Apart from the anomalous spike last night, wave C of the triangle nailed the 0.618 of wave A to the tick . This is extremely common in triangles, thus adding weight to the expectation for more sideways price action. If the rest of the triangle unfolds as normal I would expect a bounce of about 9.40 (D), followed by a rally to about 10.45 (wave E at 0.618 of...
The possibility exists that wave B of the correction may unfold into a 5 wave triangle (as indicated above). If so, the impulse wave C would be delayed, however I see no reason to alter the target....around EUR 6.00. Also see main count (link attached)
61% and 50% lines touched and bounced off from nicely. We seem to have found ourselves in a downward channel though. If eth would be to break it we could see new highs of 16.3 e possibly if not just a double top.
261% extension perfectly touched. Expecting more downwards.